Legal Question in Real Estate Law in California

My wife and I bought our house directly from the owner, he carries the loan.

It's tax time and he refuses to provide us with the mortgage statement.

Legally, what are our alternatives?


Asked on 2/22/11, 5:39 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

He may not be reporting his interest income to the IRS and FTB. Shame on him! You are nevertheless entitled to deduct mortgage interest on your residence, perhaps attaching an explanatory note to your tax return, giving the name and address of your payee and your own calculation of the interest. If you need assistance in computing the amount of your payments that went to principal and what was interest, send me the particulars and I'll try to calculate it for you, no charge.

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Answered on 2/22/11, 6:34 pm


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